Franklin First Financial fined $1.25 million for FHA loan violations

Franklin First Financial is set to join a list of #mortgage #lenders that settled with the Department of Justice for violating Federal Housing Administration lending standards, but unlike Wells Fargo, Walter Investment, and a host of others, Franklin First isn’t settling allegations. Rather, the government accused Franklin First of paying borrowers #mortgages to keep them from defaulting, thereby concealing the #lender’s default rates. ❤️ #share #mortgage